In October, the Social Security Administration projected a 2.3 percent cost of living increase for 2008.

Earlier this year, the American Payroll Association asked American workers whether their most recent pay raise covered the increase in cost of living, calculated by the government to be 3.3 percent for 2007. Just 37 percent of these workers said that it had.

The Compensation.BLR.com poll included 396 respondents.

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